Putnam Repositions Retirement Suite as ESG-Focused Funds

Mark Segal May 27, 2022

Global money management firm Putnam Investments announced today that it will reposition its Putnam RetirementReady Funds target-date series as the Putnam Sustainable Retirement Funds, adding an ESG-focused series to its retirement market offerings.

Steven McKay, Head of Global Defined Contribution Investment Only, said:

“There is growing interest in ESG investing among a wide array of clients and investors, and we believe this is an optimal time to introduce our own brand of sustainable investing to the defined contribution marketplace.”

The new sustainable retirement fund series, expected to be available in the coming months, will invest in active ETFS advised by Putnam, and will offer vintages ranging every five years from 2025 to 2065, along with a maturity fund. The announcement follows the launch by Putnam last year of its first active ESG ETFs.

Robert Reynolds, President and CEO, Putnam Investments, said:

“Putnam Sustainable Retirement Funds will combine our commitment to two of our firm’s key focus areas in the marketplace — sustainable investing and helping individuals prepare for retirement. We are excited to offer access to sustainable investment strategies within a target-date format, which continues to be a preferred investment vehicle for millions of working Americans saving for retirement.”

Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.